IDG China Venture Capital Fund V Associates L.P. Cuts Stock Position in RLX Technology Inc. Sponsored ADR $RLX

IDG China Venture Capital Fund V Associates L.P. reduced its position in RLX Technology Inc. Sponsored ADR (NYSE:RLX) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,133,003 shares of the company’s stock after selling 2,199,619 shares during the quarter. RLX Technology accounts for approximately 100.0% of IDG China Venture Capital Fund V Associates L.P.’s holdings, making the stock its biggest holding. IDG China Venture Capital Fund V Associates L.P.’s holdings in RLX Technology were worth $125,693,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RLX. Schonfeld Strategic Advisors LLC purchased a new stake in shares of RLX Technology in the fourth quarter worth approximately $26,000. Insigneo Advisory Services LLC bought a new stake in shares of RLX Technology during the fourth quarter worth $29,000. AXQ Capital LP purchased a new stake in shares of RLX Technology during the fourth quarter valued at $30,000. SmartHarvest Portfolios LLC purchased a new position in RLX Technology in the 4th quarter worth about $40,000. Finally, BNP Paribas Financial Markets bought a new stake in RLX Technology during the 3rd quarter valued at about $60,000. Institutional investors own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RLX. Wall Street Zen upgraded RLX Technology from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research note on Tuesday, April 21st. Finally, Citigroup cut their target price on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, RLX Technology presently has a consensus rating of “Hold” and a consensus price target of $2.50.

RLX Technology Stock Performance

NYSE:RLX traded down $0.04 during midday trading on Friday, reaching $1.96. 664,839 shares of the stock traded hands, compared to its average volume of 2,513,756. The stock has a market capitalization of $3.03 billion, a PE ratio of 19.55 and a beta of 1.16. RLX Technology Inc. Sponsored ADR has a 12-month low of $1.76 and a 12-month high of $2.84. The business has a 50-day moving average of $2.02 and a two-hundred day moving average of $2.18.

RLX Technology (NYSE:RLX) last announced its earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. RLX Technology had a return on equity of 6.15% and a net margin of 20.76%.The firm had revenue of $230.01 million for the quarter, compared to the consensus estimate of $166.99 million.

RLX Technology Company Profile

RLX Technology Inc (NYSE:RLX) is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.